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Although Kola hasn't been exactly the most active partner in this enterprise I doubt he would tolerate Essar stabbing us in the back. His reputation would be so irreparably damaged in global terms that he would never be trusted again Once the Market loses trust you a re finished as a major player.
Essar will keep to their part of the bargain.
"On August 4th, 2020, the Company announced that the shareholders of the Company's Nigerian Affiliate had executed definitive agreements to resolve their disputes"
There is no way COPL would have agreed to the Jan extention of that agreement if they thought it was a means for Essar to run the clock down and take everything back again.
Add to the fact of director buying in the interim position taking for the first time.
Its a good thing this extention occurred , shows key signs of continuing agreement and working together amicably.
If you read the tweets from the Nigerian president Mr Buhari you’ll see that they are trying to restructure Nigeria by building wealth for everyone- making education more accessible, developing their agricultural industries to become more self sufficient etc. Also making sure that foreign companies are aligned with their vision. If Essar stalled past the deadline now set then they would also lose out imo as Essar without native component of shoreline would not meet these new objectives of the government and be able to develop opl226 therefore in all interests to continue with the program. All imo of course. GLA
Bell60 correct.
Scenario 1 is very possible.
Art has already got 30% of his 35% interest taken off of him by the big boys at the table.
What's to stop them taking the rest of his lunch money? All they have to do is wait 95 additional days and they are free of COPL forever. Why not do that.
Art's personal investment in the company makes it clear that he sees that as unlikely. But if you asked him 12 months ago whether he would end up functionally losing the legal battle and forefeiting most of his interest, he would have said no way.
He is famously hyperconfident as demonstrated by the rise and fall of Oilexco. Nobody drilled more dry holes faster in the north sea than Arthur Millholland, or so the story goes.
why would Essar Mauritius and Shoreline not agree to extend the definitive agreement end Jan?
extension to Jan 31 is just to remove any potential issues as there has been delays in PSC approval, Essar didn't roll this as some master plan to screw COPL over again after all the past hassle - its totally circumstantial
Reading past charts performance is immaterial here, its all news based.
OK 5 year chart Bad
1 year chart good
Hows that 3 month chart
hows that 1 month chart
hows that 5 day chart
hows that 1 day chart.
The recent Surge in the COPL share price was instigated by the Definitive Agreement.
What many of you fail to accept is:
Scenario 1
1. Shoreline gave 70% of ESSAR Nigeria back, so your COPL % of the company that owns the field dropped from 35% to 5%
2, The reason ESSAR raised the court case was that they claimed that Shoreline was delinquent on its financial and strategic obligations - being to get the deal done through NNPC and pay monies into the Nigerian Company . They were obviously right why else waas the definitive agreement reached , which ties Shorelines hands further.
3. Ask Arthur what heppens if on 31st January 2021 NNPC Extension is not given and Essar Mauritius and Shoreline cannot agree to extend the definitive agreement ? Its written in the agreement . Essar pays Shoreline historic minimal costs and gets the lot. Win Win for Essar now focussing on OIL.
Scenario 2
Kola gets that meeting with NNPC and signs the extension before 3st Jan then SP Rockets
If you believe Scenario 2 then fill your boots at this low price.
A lot of you need to really calm down , spend some time away from this BB and get a good nights sleep. It really affecting your judgement .
Gotta go . I have a business dinner.. Ta Ta.
Nigeria is test on arrival, 7 days isolate then test day 8, if clear then you can go about your business. Its not two weeks.
https://www.gov.uk/foreign-travel-advice/nigeria/entry-requirements
Quarantine requirements
"All new arrivals are expected to self-isolate at one location in the city of their arrival until the result of their second PCR test (which should be taken on day 7 of arrival) is known. If the second test is negative individuals can exit self-isolation from day 8 onwards. Anyone that has developed symptoms of coronavirus during their travel or later tests positive will be managed according to national guidelines for COVID-19 treatment. This may require quarantine at a government-monitored treatment centre."
Disaster. Share market
Thank you .
I find it bizarre that you are not here to "mother" or "spoon feed" me but then pathetically attempt do just that with a rather unpleasant and condescending manner suggesting I'm emotional... Quite the contrary- I look at all the facts , and unlike some can learn from history.
If your time is better spent elsewhere ..Simply stop responding - or even better filter me out. I didn't ask for a 101 Investing lesson from you. Why would I? I'm not saying that you lack any investing skills whatsoever and are incapable of looking at the full record of a company, its positives and negatives and its stock and placement record and not emotionally knee jerking to the latest spangly thing AM presents to you. No that would be quite wrong of me!
I do like like the way however you selectively edit out the sections that don't support your argument from my comments, it's a nice attempt to redeem some of your "bruised ego". I also applaud your endeavours to slip in untruths in the hope they may ultimately become accepted, eg Current Travel Meeting issues which should be resolved shortly. Says who - certainly not Arthur? His recent inteview was over 70% focussed on Covid difficulties and how nobody wants to isolate for 14 days - no why would hge do that giving an interview from.... his home possibly.
What he didnt say was that ESSAR is directly responsible for the signing, and why would he . He intimated it but didn't come right out and say it.
Correct me if I'm wrong but Kola Karim is the the senior board Executive of Essar Nigeria and as such is able to sign any legal agreement with NNPC, hes done it before for his OML30. It doesnt need Essar or AM.
As for looking at the investment with Fresh Eyes and in context, I suggest you take off those blinkers .
Checkout the NNPC Tweets . meetings going on.................
So we’re all more or less agreed we have a total Kent monopolising the board then.When your that Sad Cafe and friendless a bit of disruption and contrarian posting is the only attention you may receive for days/weeks maybe months.Thats the joy of being a total Kent bless.
Petro, congratulations on your patience, i couldn't be that bothered to debate that with Bell.
It hasn't been 10p since 2016. Anyone can pick moments to suit our argument/case/agenda - but to deny you have one when you only ever see one side is called denial.
The 6 month and 12 month charts look amazing, if you bought at 0.04 (and you had weeks and weeks to do so) then everything looks rosy.
Sadly on poor days/weeks when panic is aplenty, you find the worst traits in the worst people.
I’m sorry , do you understand the English language or are you just trying to play dumb .
Once again pay attention . I didn’t say won’t I said it’s not a given .
I dont shout , I Post when others post rubbish .
You suggest My argument is redundant because I’m taking the previous Essar Issue as negative...... mmm nice approach . It isn’t a previous Essar issue it’s very much current, due to Shorecans inability to move this forward Essar have regained 70% of Essar Nigeria and if the extension is not gained by the extended end Jan 2021 then Shorecan - and hence COPL will not have any interest in Essar Nigeria.
I applaud you for your confidence . Buy low and sell high
Look at all the placement prices and where we are now and how many shares are outstanding now compared to say 2 years ago . Effectively the company is no further forward . Still awaiting NNPC approval
History and facts would prove that is always the case.
This sell off has been way over done and we will be back at 0.3p and above. I would bet my life on it.
Pay attention
It’s dipped 4 times here since September and returned to 30’s
Pay attention
It’s complete rubbish to state that because a placement was at .3 then it will automatically return to that price. History and facts demonstrate that is not a given
Vol. Sold 73,103,741
Sold Value £153.52k
Vol. Bought 61,350,874
Bought Value £128.84k
Just for balance
That is complete rubbish .
Look at all the placement prices over the last two years .
At the end of the day the last placing, shares in lieu of wages, warrants, etc was at 0.3p
Therefore the SP will always come back to 0.3p
And when we get news we are looking at 0.8p minimum.
This really is bargain basement prices.
Sea of blue but to be fair there have been many sells last 3 days. Just a matter of sitting tight, the MM’s are sitting on quite a bit of stock still so will have to create a market....
Yes 3 lots at between .19p and .2p
That brings my total to 41 million
Nice one yacht - must have bought them in multiple buys as there’s no 5Mill purchase ...........
You are very predictable
Spout a load of rubbish and then conveniently ignore it and move into attack mode
If you don’t like to hear the truth then filter me out , it’s that button just above here ......
Ding a Ling.
You are just the latest pro ****e Stitter to grace this BB.
Like all the others you will disappear when you feel your agenda is achieved.
Why not get a proper job?